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pain therapeutics inc (PTIE) Details

Pain Therapeutics, Inc., a biopharmaceutical company, develops novel drugs. Its lead drug candidate is REMOXY (oxycodone) Extended-Release Capsules CII, an investigational drug with a controlled release formulation of oxycodone for patients with moderate-to-severe chronic pain. The company’s other product candidates comprise hydromorphone, hydrocodone, and oxymorphone, which are abuse-resistant opioid product candidates. Pain Therapeutics, Inc. has strategic alliance with Pfizer, Inc. to develop and commercialize REMOXY and other abuse-resistant opioid painkillers. The company was founded in 1998 and is based in Austin, Texas.

pain therapeutics inc (PTIE) Key Developments

Pain Therapeutics Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Net Cash Guidance for the Year 2015

Feb 17 15

Pain Therapeutics Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company’s net loss was $2.2 million, or $0.05 per basic and diluted share, compared to a net income of $33.02 million, or $0.72 per diluted share, a year ago. Operating loss was $2.2 million, compared to an operating income of $32.903 million a year ago. Loss before provision for income taxes was $2.2 million against income of $32.942 million a year ago.
For the year the company’s net loss was $12.4 million, or $0.27 per basic and diluted share, compared to a net income of $31.5 million, or $0.70 per basic and diluted share, a year ago. Operating loss was $12.433 million, compared to an operating income of $31.4 million a year ago. Loss before provision for income taxes was $12.4 million against income of $31.5 million a year ago. Net cash used in 2014 was $9.2 million.
In 2015, the company expects net cash usage to be approximately $12 million.

Pain Therapeutics Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net loss of $3.5 million, or $0.08 per basic and diluted share, compared to a net loss of $0.8 million, or $0.02 per basic and diluted share in last year. The company reported operating loss of $3.5 million compared to $0.8 million for the last year.
For the nine months, the company reported net loss of $10.2 million, or $0.23 per basic and diluted share, compared to a net loss of $1.5 million, or $0.03 per basic and diluted share and operating loss of $10.3 million compared to $1.5 million for the last year.

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